How appropriate that Jeff Koons, the world’s most decadent artist, has designed a Champagne bottle for Dom Perignon. He was feted last night at a party in the West Village, which attracted the Fashion Week hive into a sweaty studio on Greenwich Street.

Upon entering, visitors found themselves in a room covered in moss, like a movie set forest, the floor covered in Astroturf. What this has to do with Mr. Koons and his multimillion-dollar balloon animal sculptures is unclear, but the setting fit with the room’s temperature, which, whether deliberate or not, was kept jungle hot. There were dark corners throughout that gave way to claustrophobic halls of mirrors, which led, after some bumping into walls, to one of Mr. Koons’s Venus Balloon bottles, set on a pedestal to be worshiped (or at least Instagrammed).

An hour or so into the party, Mr. Koons himself came to sip some of the good stuff. Jeffrey Deitch, the New York art scene’s prodigal son now returned from a testy stint in L.A., sheepishly trailed behind him.

“It’s great Champagne!” Mr. Koons said to us, looking up from his glass.

“Dom Perignon invited me about two years ago to work on the project,” he continued. “At the time I was working on the Balloon Venus, and I thought it represented life energy and celebrating the biological. And it’s like a Titian painting of a bacchanal, it’s a celebration of the senses.”

The bottle will retail for $20,000, pennies compared to a real Koons work (the 1995–2004 Tulips sold at auction in 2012, to Steve Wynn, for $33.7 million). Even if you’re New York Knick Carmelo Anthony, owning one of his works is just a little outside the realm of practical spending.

“I’m a big fan of Jeff Koons, but I don’t own any,” said Mr. Anthony, the highest-paid player on the Knicks. “I don’t own any right now, as of yet. I want to invest.”